Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31No description of principal activity2022-06-01false77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC030118 2022-06-01 2023-05-31 SC030118 2021-06-01 2022-05-31 SC030118 2023-05-31 SC030118 2022-05-31 SC030118 c:Director1 2022-06-01 2023-05-31 SC030118 c:Director3 2022-06-01 2023-05-31 SC030118 c:Director4 2022-06-01 2023-05-31 SC030118 c:RegisteredOffice 2022-06-01 2023-05-31 SC030118 d:Buildings d:LongLeaseholdAssets 2022-06-01 2023-05-31 SC030118 d:Buildings d:LongLeaseholdAssets 2023-05-31 SC030118 d:Buildings d:LongLeaseholdAssets 2022-05-31 SC030118 d:Buildings d:ShortLeaseholdAssets 2022-06-01 2023-05-31 SC030118 d:Buildings d:ShortLeaseholdAssets 2023-05-31 SC030118 d:Buildings d:ShortLeaseholdAssets 2022-05-31 SC030118 d:PlantMachinery 2022-06-01 2023-05-31 SC030118 d:PlantMachinery 2023-05-31 SC030118 d:PlantMachinery 2022-05-31 SC030118 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030118 d:MotorVehicles 2022-06-01 2023-05-31 SC030118 d:MotorVehicles 2023-05-31 SC030118 d:MotorVehicles 2022-05-31 SC030118 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030118 d:FurnitureFittings 2022-06-01 2023-05-31 SC030118 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030118 d:CurrentFinancialInstruments 2023-05-31 SC030118 d:CurrentFinancialInstruments 2022-05-31 SC030118 d:Non-currentFinancialInstruments 2023-05-31 SC030118 d:Non-currentFinancialInstruments 2022-05-31 SC030118 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC030118 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 SC030118 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC030118 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 SC030118 d:ShareCapital 2023-05-31 SC030118 d:ShareCapital 2022-05-31 SC030118 d:CapitalRedemptionReserve 2023-05-31 SC030118 d:CapitalRedemptionReserve 2022-05-31 SC030118 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC030118 d:RetainedEarningsAccumulatedLosses 2022-05-31 SC030118 c:OrdinaryShareClass1 2022-06-01 2023-05-31 SC030118 c:OrdinaryShareClass1 2023-05-31 SC030118 c:OrdinaryShareClass1 2022-05-31 SC030118 c:FRS102 2022-06-01 2023-05-31 SC030118 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC030118 c:FullAccounts 2022-06-01 2023-05-31 SC030118 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC030118










RSM MILNE (DYKELANDS) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
RSM MILNE (DYKELANDS) LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr J T Milne 
Mr R T Milne 
Mr J A Milne 




REGISTERED NUMBER
SC030118



REGISTERED OFFICE
Dykelands
Laurencekirk

Kincardineshire

AB30 1UP




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
RSM MILNE (DYKELANDS) LIMITED
REGISTERED NUMBER: SC030118

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
851,114
774,631

Trade investments
  
52
52

  
851,166
774,683

Current assets
  

Stocks
  
285,258
250,888

Debtors
 5 
56,650
88,399

Cash at bank and in hand
  
99,826
301,135

  
441,734
640,422

Creditors: amounts falling due within one year
 6 
(251,807)
(345,707)

Net current assets
  
 
 
189,927
 
 
294,715

Total assets less current liabilities
  
1,041,093
1,069,398

Creditors: amounts falling due after more than one year
 7 
(473,824)
(507,742)

Provisions for liabilities
  

Deferred tax
  
(63,009)
(47,087)

  
 
 
(63,009)
 
 
(47,087)

Net assets
  
504,260
514,569


Capital and reserves
  

Called up share capital 
 8 
7,500
7,500

Capital redemption reserve
  
7,500
7,500

Profit and loss account
  
489,260
499,569

  
504,260
514,569


Page 1

 
RSM MILNE (DYKELANDS) LIMITED
REGISTERED NUMBER: SC030118

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 February 2024.




Mr R T Milne
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

RSM Milne (Dykelands) Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC030118. The registered office is Dykelands, By Laurencekirk, Kincardineshire, AB30 1UP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.3

Pensions

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (CONTINUED)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Tenant's improvements
-
4.0%
straight line method
Plant and machinery
-
12.5%
reducing balance method
Motor vehicles
-
25.0%
reducing balance method
Fixtures, fittings and equipment
-
10.0%
straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Heritable property
Tenants improve-ments
Plant and machinery
Motor vehicles
Total

£
£
£
£
£



COST OR VALUATION


At 1 June 2022
313,170
321,774
441,936
46,983
1,123,863


Additions
-
-
96,124
49,707
145,831


Disposals
-
-
(3,250)
-
(3,250)



At 31 May 2023

313,170
321,774
534,810
96,690
1,266,444



DEPRECIATION


At 1 June 2022
-
120,434
192,890
35,908
349,232


Charge for the year on owned assets
-
9,546
42,938
15,197
67,681


Disposals
-
-
(1,583)
-
(1,583)



At 31 May 2023

-
129,980
234,245
51,105
415,330



NET BOOK VALUE



At 31 May 2023
313,170
191,794
300,565
45,585
851,114



At 31 May 2022
313,170
201,340
249,046
11,075
774,631

Page 7

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors


2023
2022
£
£



Trade debtors and prepayments
35,579
62,507

Deferred expenses & other debtors
21,071
25,892

56,650
88,399



6.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
31,045
28,172

Other loans
140,000
140,000

Trade creditors and accruals
31,986
27,060

Other taxation and social security
30,291
110,850

Other creditors
18,485
39,625

251,807
345,707



7.


Creditors: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
473,824
507,742

473,824
507,742


The following liabilities were secured:

2023
2022
£
£



Bank loans
473,824
507,742

473,824
507,742

Details of security provided:

The bank loans have a floating charge and are privately secured on the land of Dykelands Farm which is owned by the directors.

Page 8

 
RSM MILNE (DYKELANDS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

8.


Share capital

2023
2022
£
£
AUTHORISED



15,000 (2022 - 15,000) Ordinary shares of £1.00 each
15,000
15,000

ALLOTTED, CALLED UP AND FULLY PAID



7,500 (2022 - 7,500) Ordinary shares of £1.00 each
7,500
7,500



Page 9